Student loans are a type of loan designed to help students pay for post-secondary education costs such as tuition, books, supplies, and living expenses.
Before You Borrow
- Is it necessary to accept the full amount that is offered?
- When does the repayment period begin?
- Can I come up with some of the money another way?
- What is my interest rate going to be? What is a good interest rate for this loan?
- How long will it take to repay this loan
Remember! After graduation, leaving school, or dropping below half time, your grace period will begin. No payment is due during this time. The grace period for Federal Direct Loans is 6-months.
This Loan Repayment Checklist can help you manage and repay your federal student loans
Federal Student Loan Repayment Plans
CashCourse’s guide on Choosing the Best Repayment Plan for You can help you navigate which repayment plan would be best for you.
Use this video for tips on knowing how much you owe.
Federal Loan Forgiveness
After you graduate, if you are employed by a U.S. federal, state, local, or tribal government or not-for-profit organization, you might be eligible for the Public Service Loan Forgiveness Program.
Learn about the Teacher Loan Forgiveness program to see whether you may be able to qualify if the future .
Find an overview of Loan Forgiveness programs in this video: